SJP bosses face investor backlash over 'windfall gain' remuneration

Institutional Shareholder Services urged clients to vote against package

Jenna Brown
clock • 2 min read

St James’s Place (SJP) is facing a potential shareholder revolt over its executive pay package after a corporate governance organisation raising concerns to its members.

Institutional Shareholder Services (ISS) said SJP investors should vote against the group's executive remuneration at its annual general meeting on Thursday. ISS said top bosses at the wealth manager were benefiting from a "windfall gain" from share awards granted during the Covid-19 pandemic. Information sent to ISS members, seen by PA, said: "Material concerns have been identified in respect of the vesting of the 2020 long-term incentive plan (LTIP) award, which is judged to have significantly benefitted from 'windfall gains'. "The share price used to determine the grant value was b...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Companies

Paul Stockton (pictured) is CEO of Rathbones.

Rathbones and Investec complete merger to create £100bn business

Creates one of the UK's largest discretionary wealth managers

Valeria Martinez
clock 21 September 2023 • 1 min read
Wren Sterling makes double acquisition adding £400m in AUM

Wren Sterling makes double acquisition adding £400m in AUM

Added 1,000 to its books through two advisory deals

Jenna Brown
clock 21 September 2023 • 1 min read
Fintel in 'active M&A talks' as Defaqto and SimplyBiz drive growth

Fintel in 'active M&A talks' as Defaqto and SimplyBiz drive growth

Defaqto and SimplyBiz ‘contributed well to Fintel’s profitability’

Sahar Nazir
clock 19 September 2023 • 1 min read